Private equity firm exits cloud call management business

LEEDS-BASED specialist firm YFM Equity Partners have offloaded their share in a London-based cloud call management group.

Along with Octopus Investments, they sold their share in Callstream Group to Los Angeles-based J2 Global for an undisclosed sum.

This provides a full exit for all funds. Callstream was backed by the Octopus Apollo Venture Capital Trust advised by Octopus Investments and British Smaller Companies VCT and VCT2, both advised by YFM Private Equity.

Mick Crosthwaite, chief executive of Callstream, commented: “Callstream has expanded significantly following backing from YFM and Octopus Investments. We appreciate the practical advice; strategic guidance and support of both teams in helping us fuel our continued growth over the past five years.”

Nigel Owens, investment director for YFM stated: “It has been a privilege to work with the outstanding Callstream management team and we wish them continued success in the years to come.”

Grant Paul Florence, head of the Intermediate Capital team at Octopus, said: “We have really enjoyed working with the management team to help them successfully grow the business, both organically and through acquisition. It is a great company that has developed a loyal customer base over the years. We wish the team every success as they enter this new chapter of growth as part of a global enterprise.”

Octopus and YFM were advised by Knight Corporate Finance and Gateley plc acted as legal counsel.